Question 1

Benchmarking is an analytical tool used to determine whether a firm's value chain activities are competitive compared to rivals.

Accepted Answer

A) True 
 B)False  True

Question 2

Most producers today sell their goods directly to consumers.

Accepted Answer

A) True 
 B)False  False

Question 3

Explain the resource-based view and its relation to strategic management.

Accepted Answer

The resource-based view (RBV) approach to competitive advantage contends that internal resources are more important than external factors for a firm in achieving and sustaining competitive advantage, in contrast to the I/O theory. According to the RBV, organizational performance is determined by physical resources, human resources, and organizational resources. RBV theory asserts that resources are actually what help a firm exploit opportunities and neutralize threats. The theory also asserts that in order to maintain a competitive advantage, a resource must either be rare, not easily substitutable, or hard to imitate.

Question 4

What category of ratios measures how effectively a firm can maintain its economic position in the growth of the economy and industry?

Accepted Answer

A)  Profitability 
B)  Liquidity 
C)  Leverage 
D)  Revenue Growth 
E)  Growth 
A)  Profitability 
B)  Liquidity 
C)  Leverage 
D)  Revenue Growth 
E)  Growth

Question 5

Four basic approaches exist to determine R&D budget allocations. What are these approaches?

Accepted Answer

The four commonly-used approaches to det

Question 6

Selling includes all of these marketing activities EXCEPT

Accepted Answer

A)  advertising. 
B)  dealer relations. 
C)  customer analysis. 
D)  publicity. 
E)  sales promotion. 
A)  advertising. 
B)  dealer relations. 
C)  customer analysis. 
D)  publicity. 
E)  sales promotion.

Question 7

The controlling function of management is especially important for effective strategy evaluation.

Accepted Answer

A) True 
 B)False

Question 8

The process whereby a firm determines the costs associated with organizational activities from purchasing raw materials to manufacturing products to marketing those products is called

Accepted Answer

A)  The Resource-Based Approach. 
B)  Value Chain Analysis. 
C)  Strategic Cost Analysis. 
D)  The Internal Factor Evaluation Matrix. 
E)  Cost-Benefit Analysis. 
A)  The Resource-Based Approach. 
B)  Value Chain Analysis. 
C)  Strategic Cost Analysis. 
D)  The Internal Factor Evaluation Matrix. 
E)  Cost-Benefit Analysis.

Question 9

Value chain analysis can enable a firm to better identify its own strengths and weaknesses especially as compared to competitors' value chain analyses and their own data over time.

Accepted Answer

A) True 
 B)False

Question 10

Which of the three finance and accounting decisions involves determining the best capital structure for the firm?

Accepted Answer

A)  Investment 
B)  Dividend 
C)  Financing 
D)  Capital budgeting 
E)  Implementation 
A)  Investment 
B)  Dividend 
C)  Financing 
D)  Capital budgeting 
E)  Implementation

Question 11

A ritual is a standardized set of behaviors used to manage anxieties.

Accepted Answer

A) True 
 B)False

Question 12

According to Roger Schroeder, which basic function within production and operations deals with aggregate planning and scheduling?

Accepted Answer

A)  Capacity 
B)  Inventory 
C)  Workforce 
D)  Process 
E)  Quality 
A)  Capacity 
B)  Inventory 
C)  Workforce 
D)  Process 
E)  Quality

Question 13

Capacity decisions concern distances from raw materials to production sites to customers.

Accepted Answer

A) True 
 B)False

Question 14

The three all-encompassing internal resource categories used in the resource-based view are physical resources, human resources, and

Accepted Answer

A)  financial resources. 
B)  shareholder resources. 
C)  organizational resources. 
D)  non-renewable resources. 
E)  technological resources. 
A)  financial resources. 
B)  shareholder resources. 
C)  organizational resources. 
D)  non-renewable resources. 
E)  technological resources.

Question 15

Opportunities are a firm's distinctive competencies that cannot be easily matched or imitated by competitors.

Accepted Answer

A) True 
 B)False

Question 16

An effective information management system ________ information in such a way that it answers important operating and strategic questions.

Accepted Answer

A)  collects 
B)  codes 
C)  stores 
D)  synthesizes 
E)  all of the above 
A)  collects 
B)  codes 
C)  stores 
D)  synthesizes 
E)  all of the above

Question 17

Activity ratios measure how effectively a firm is using its resources.

Accepted Answer

A) True 
 B)False

Question 18

Synergy

Accepted Answer

A)  is the 2 + 2 = 5 effect. 
B)  can result in powerful competitive advantages. 
C)  can be developed by an organization through planning. 
D)  exists when everyone pulls together as a team that knows what it wants to achieve. 
E)  all of the above 
A)  is the 2 + 2 = 5 effect. 
B)  can result in powerful competitive advantages. 
C)  can be developed by an organization through planning. 
D)  exists when everyone pulls together as a team that knows what it wants to achieve. 
E)  all of the above

Question 19

If total fixed costs are $10,000, variable costs per unit are $5, and the price per unit is $15, what is the breakeven quantity?

Accepted Answer

A)  500 
B)  667 
C)  1,000 
D)  2,000 
E)  5,000 
A)  500 
B)  667 
C)  1,000 
D)  2,000 
E)  5,000

Question 20

Discuss how technology has affected advertising and other marketing activities.

Accepted Answer

Recent research reveals that the most ef

Benchmarking is an analytical tool used to determine whether a firm's value chain activities are competitive compared to rivals.

Most producers today sell their goods directly to consumers.

Explain the resource-based view and its relation to strategic management.

What category of ratios measures how effectively a firm can maintain its economic position in the growth of the economy and industry?

Four basic approaches exist to determine R&D budget allocations. What are these approaches?

Selling includes all of these marketing activities EXCEPT

The controlling function of management is especially important for effective strategy evaluation.

The process whereby a firm determines the costs associated with organizational activities from purchasing raw materials to manufacturing products to marketing those products is called

Value chain analysis can enable a firm to better identify its own strengths and weaknesses especially as compared to competitors' value chain analyses and their own data over time.

Which of the three finance and accounting decisions involves determining the best capital structure for the firm?

A ritual is a standardized set of behaviors used to manage anxieties.

According to Roger Schroeder, which basic function within production and operations deals with aggregate planning and scheduling?

Capacity decisions concern distances from raw materials to production sites to customers.

The three all-encompassing internal resource categories used in the resource-based view are physical resources, human resources, and

Opportunities are a firm's distinctive competencies that cannot be easily matched or imitated by competitors.

An effective information management system ________ information in such a way that it answers important operating and strategic questions.

Activity ratios measure how effectively a firm is using its resources.

Synergy

If total fixed costs are $10,000, variable costs per unit are $5, and the price per unit is $15, what is the breakeven quantity?

Discuss how technology has affected advertising and other marketing activities.

The Nature of Strategic Management

The Business Vision and Mission

The External Assessment

Strategies in Action

Strategy Analysis and Choice

Implementing Strategies: Management, Operations, and Human Resource Issues

Implementing Strategies: Marketing, Financeaccounting, Rd, and Mis Issues

Strategy Review, Evaluation, and Control

Business Ethics, Social Responsibility, and Environmental Sustainability

Global and International Issues

Filters

Exam 4: The Internal Assessment

Benchmarking is an analytical tool used to determine whether a firm's value chain activities are competitive compared to rivals.

Most producers today sell their goods directly to consumers.

Explain the resource-based view and its relation to strategic management.

What category of ratios measures how effectively a firm can maintain its economic position in the growth of the economy and industry?

Four basic approaches exist to determine R&D budget allocations. What are these approaches?

Selling includes all of these marketing activities EXCEPT

The controlling function of management is especially important for effective strategy evaluation.

The process whereby a firm determines the costs associated with organizational activities from purchasing raw materials to manufacturing products to marketing those products is called

Value chain analysis can enable a firm to better identify its own strengths and weaknesses especially as compared to competitors' value chain analyses and their own data over time.

Which of the three finance and accounting decisions involves determining the best capital structure for the firm?

A ritual is a standardized set of behaviors used to manage anxieties.

According to Roger Schroeder, which basic function within production and operations deals with aggregate planning and scheduling?

Capacity decisions concern distances from raw materials to production sites to customers.

The three all-encompassing internal resource categories used in the resource-based view are physical resources, human resources, and

Opportunities are a firm's distinctive competencies that cannot be easily matched or imitated by competitors.

An effective information management system ________ information in such a way that it answers important operating and strategic questions.

Activity ratios measure how effectively a firm is using its resources.

Synergy

If total fixed costs are $10,000, variable costs per unit are $5, and the price per unit is $15, what is the breakeven quantity?

Discuss how technology has affected advertising and other marketing activities.

The Nature of Strategic Management

The Business Vision and Mission

The External Assessment

Strategies in Action

Strategy Analysis and Choice

Implementing Strategies: Management, Operations, and Human Resource Issues

Implementing Strategies: Marketing, Financeaccounting, Rd, and Mis Issues

Strategy Review, Evaluation, and Control

Business Ethics, Social Responsibility, and Environmental Sustainability

Global and International Issues

Filters